Sunday, November 9, 2008

China's New Stimulus Plan

This article discusses how China is going to implement a stimulus plan to help their economy.  It seems like it's a lot like the stimulus plan implemented in the United States; it would pick up the pace on spending on low-cost housing, increase spending on rural infrastructure, and put money into new railways, roads and airports, as well as other things.  In addition, it will remove credit limits for commercial banks.  The total plan is worth $586 billion.  I think that it's interesting that China is introducing a stimulus plan like the United States', but the fact that their stimulus plan includes things such as increased spending on health and education show the difference between China and the U.S., that China is still a communist state and the United States is still a capitalist state.

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